Sunrise Resources (LON:SRES) – SPECULATIVE BUY*: Bay State update
Market Cap: £1.5m; Current Price: 0.2p
Drilling to commence next week
- Sunrise Resources has a signed a drill contract for the Bay State Silver Project with Boart Longyear.
- Mobilisation is due to take place on the 24th August.
- Three holes will be drilled totalling 500m of diamond drilling. These holes will test below the Chihuahua Vein system with one hole testing the area were bonanza silver grades were previously detected.
- Drilling is expected to be completed within two weeks of the start date, with results expected to follow in eight weeks.
NORTHLAND CAPITAL PARTNERS VIEW: The initial drill programme at Bay State Silver Project will be a key bellwether for Sunrise Resources. Should the programme define high grade mineralisation over significant incepts, as the limited sampling completed to date appears to indicate, it would be transformational for the Company.